Tuesday, August 22, 2017
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Rosneft buys India's Essar Oil for $12.9 bn

Reuters MUMBAI Russian oil major Rosneft, oil trader Trafigura and Russian fund UCP closed their $12.9 billion purchase of Indian refiner Essar Oil on Monday, giving the companies a foothold in a country that is among the ..

Indian stocks losses mount; Infosys pulls down Sensex

PTI Mumbai Indian stocks on Monday made an early attempt to come out of the Infosys jolt, but ultimately could not as the Sensex lost 266 points and the Nifty cracked below 9,800 at the close. The IT sector as a whole faced the backlash of ..

OPEC oil  supply set for sharp drop in Aug

Reuters LONDON OPEC oil supply is set to fall by 419,000 barrels per day (bpd) this month, a company that tracks OPEC shipments forecast on Monday, reflecting plans for lower exports by Saudi Arabia and reductions by other producers. ..

Tribune News Network Doha The value-added tax (VAT) legislation will soon be a reality and compliance formalities will start affecting businesses even before VAT goes live in Qatar, a report by KPMG said on Monday. In June 2016, the ..

Reuters NEW YORK Oil prices fell nearly 2 percent on Monday, pulling back from last week's rally built on signs the global market is starting to rebalance from chronic oversupply. Brent crude futures LCOc1 lost 2 percent, or ..

DUBAI: The United Arab Emirates has issued a new law that imposes taxes on tobacco products, energy drinks and soft drinks to boost revenue and help offset the impact of lower oil prices. President of the UAE Sheikh Khalifa bin Zayed Al ..

Reuters DUBAI Middle East investment companies are ramping up their lending to businesses, providing a lifeline for small and medium-sized firms struggling to secure finance from banks that tightened credit after suffering a ..

Reuters ABU DHABI/DUBAI Etihad Airways has delayed the appointment of its new group chief executive to late 2017 with the hiring of a new boss nearly finalised, the airline said on Monday. In May, Abu Dhabi's Etihad appointed ..

AFP Frankfurt am Main Insolvent German airline Air Berlin hopes to complete its sale by September, the group's chief executive said, as government officials fended off accusations of favouring Lufthansa in the bankruptcy ..

Reuters HONG KONG Uber said it raised its Hong Kong minimum fares on Monday by as much as 80 percent following a review. The San Francisco-based technology company, which recently suspended its services for the second time in the ..

AFP Paris French oil giant Total said Monday that it would buy Maersk Oil, a unit of Danish shipping giant AP Moller-Maersk, for $7.45 billion (6.35 billion euros). The company said the deal would make Total the second-largest ..

Reuters SINGAPORE/DUBAI Iraq has informed its customers that it plans to change its price benchmark for Basra crude in Asia to DME Oman futures from January, the country's latest move to reform its oil sales. The proposed change ..

Reuters Sempra Energy said it will buy Oncor for $9.45 billion in cash after Energy Future Holdings Corp, which indirectly owns Oncor, abandoned a deal to sell the power transmission company to Warren Buffett's Berkshire ..

AP BEIJING Chinese SUV maker Great Wall Motors is considering making a bid to buy Fiat Chrysler's Jeep unit, spokespeople for the company said Monday, in a possible ambitious new step onto the global stage for China's ..

Reuters WOLFSBURG, Germany Volkswagen is more focused on its multi-billion-euro shift towards electric vehicles and transport services than any potential sale of motorcycle brand Ducati or transmissions maker Renk, its head of ..

AFP New Delhi McDonald's said Monday it is shutting 169 restaurants in India after a legal row with a local franchise operator. The fast food chain's Indian subsidiary said it was terminating its agreement with Connaught ..